Mortgages

A real estate firm focused on gentrifying neighborhoods is showing cracks after a group of its apartment buildings in New York’s Upper West Side and Harlem filed for bankruptcy.

The former property-assessed clean energy program administrator plans to sell off assets via Chapter 11, but PACE securitizations through its bankruptcy-remote trusts will continue to be backed by homeowner ad valorem assessments.

The agency's request for input will shape how mortgages underwritten by Fannie Mae and Freddie Mac handle appraisals and curb risk.

Industry watchers make their wildest guesses (more or less) about developments in real estate finance that could rock the industry in the upcoming months.

Falling interest rates more than canceled out median home listing prices, reaching an all-time time high during the month, Redfin said.

Recipients can’t charge penalties for, or engage in, evictions solely for nonpayment, must provide a written notice of tenant rights, flexibility in repayment and, where applicable, 30-day vacate notices.

Mortgage rates yet again have dropped to a record low, even as the yield on the benchmark 10-year Treasury flirts with breaking back above the 1% mark, according to Freddie Mac.

The availability of financing hasn’t been an issue to date, but it still could be.

The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.

About 4,400 loans started the foreclosure process in November, alongside 176,000 mortgages in active foreclosure.